The 30-year fixed-rate mortgage (FRM) edged down slightly for the week ending Jan. 19 to 3.88%, marking a new all-time record low, according to new data from Freddie Mac. This is the seventh consecutive week that the 30-year FRM is below 4%. Last year at this time, the 30-year FRM averaged 4.74%.
Freddie Mac also reports that the 15-year FRM this week averaged 3.17% with an average 0.8 point, up from last week when it averaged 3.16%. A year ago at this time, the 15-year FRM averaged 4.05%.
The five-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82% this week, with an average 0.7 point, matching last week's 2.82% average. A year ago, the five-year ARM averaged 3.69%.
The one-year Treasury-indexed ARM averaged 2.74% this week with an average 0.6 point, down from last week when it averaged 2.76%. At this time last year, the one-year ARM averaged 3.25%.